Embraer Reports Growth in Net Income, Revenue

The aerospace company said increased deliveries of executive and commercial jets helped drive results at the end of 2022.

Jonathan Welsh

Friday, March 10, 2023 at 03:51 PM ET

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Embraer said strong sales of its Phenom 300 light jet helped drive its improving results. [Credit: Shutterstock]

Key Takeaways:

Embraer reported increased aircraft deliveries and a growing order backlog totaling $17.5 billion in 2022, largely driven by demand for its executive jets despite supply chain challenges.
While the fourth quarter of 2022 saw significant rises in net income ($22.9 million) and revenue (up 53% to $2 billion), the company posted a larger net loss of $185.4 million for the full year.
Embraer projects continued growth for 2023, with guidance for increased deliveries of both commercial (65-70) and executive (120-130) jets, expecting revenues between $5.2 billion and $5.7 billion.

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Embraer said its aircraft deliveries rose and its order backlog grew during 2022, driven in part by demand for the Brazilian company’s executive jets including its popular Phenom 300 series.

Net income for the fourth quarter totaled $22.9 million, or 12 cents per share, compared with $2.1 million, or one cent per share, during the fourth quarter of 2021. Revenue rose 53 percent during the quarter to $2 billion from $1.3 billion.